Doha Insurance Holds AGM and EGM on 3rd March 2015
March 03, 2015
Doha Insurance company announces the results of the Ordinary General Assembly Meetings held on 3/3/2015 , and has approved the following:-
First: Results of theOrdinary General Assembly Meeting
The Shareholders have heard and approved thefollowing agenda: -
1. TheChairman’s statement and the report of the Board of Directors on the activitiesof the company and its financial position for the year ended 31stDecember 2014 and the future business plans.
2. Approvedthe Shariah supervisory Board report on the Company’s Islamic Branch “DohaTakaful” for the financial year ended 31st December 2014.
3. Approvedthe Auditors report on the Company Financial Statement for the year ended 31stDecember 2014.
4. Approvedthe Company’s Financial Statement for the year ended 31st December2014.
5. Approvedthe proposal of the Board of Directors to distribute to the Shareholders a cashdividends of 10% from the share par value i.e QR. One Riyals for each share.
6. Releasedfrom liability the members of the Board of Directors and fixing theirremunerations for the financial year ended 31st December 2014.
7. Approvedthe company’s governance report for 2014.
8. Appointedan external auditor for the financial year 2015 and fixing their fees.
9. Electednew board of director for a period of three years (2015-2017) as per the listattached.
Second: Results of the ExtraordinaryGeneral Assembly Meeting
The shareholders approved amendingparagraph (1) article (66) of the article of association of the company to beas follows:-
Atleast (10%) of the annual net profit shall be allocated to the Legal reservetill the reserve reaches (100%) of the paid-up capital. The legal reserve isnot available for distribution. However, it is allowed, after obtaining QatarCentral Bank approval, to distribute up to (5%) as dividends from the balance ofthe reserve that are more than (100%) of the paid-up capital, in the years thatthe company didn’t achieve sufficient profit to distribute this ratio.